Stock Market News

EUR/USD must close above 1.3220 to confirm rebound

The euro/dollar managed to close on Wednesday above the highs of the previous two sessions.

Digital Look technical analysts noted that this was a slightly bullish signal, but still wasn't enough to confirm the beginning of a rebound in its price series.

"For that, we would need to see a close above 1.3220 which could then take the pair up to 1.34," they said.

They further warned that the current technical aspect of the pair had them watching for the loss of the 1.31 support level. Abandoning that support would suggest a further descent to 1.30, they explained.

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